No price, no gain!

Luka Kaplar, February 20. 2015

A few thoughts on pricing

The services personal trainers offer are valuable and everything of value comes at a price. Here you’ll find some interesting tips and pitfalls about pricing, as well as ways to make sure both you and your clients are happy with the deal. We’ll explore the importance of bundling items and making a package, keeping prices simple, anchoring prices or showing them in contrast with more extensive offers, some classic and time-honored tricks, making payment easy for your clients, and perhaps most importantly adding context.

We know you’re already great at building confidence and establishing rapport, you’ve got great ideas about nutrition, and your clients are in the best shape of their life. With a different approach to pricing you’ll maximize your hours and have even more clients to motivate.

Make a package deal

Even adding something you consider trivial to an existing set of services could prove quite valuable for your clients. Such package deals are naturally more attractive, as they provide more for a seemingly small extra amount.

For instance, the perceived added value in a coupon for a free after-workout protein shake with you per package of sessions – a cost of just a few quid and a half-hour of your time – might be worth £15 more per package to your clients. For big enough packages, you might add a t-shirt or sweatband, a small cost on your end but a considerable added value in the eyes of your clients. People wearing gear with your logo on it are great free promotion. Also, if clients regularly purchase additional services you offer, for instance extra nutritional counseling or designing a home workout program, make it easy for them to include that in a bundled deal along with their regular training sessions.

Simple but different

Prices which are as simple as possible prove the most effective. Complicated price lists confuse clients and ultimately waste their time. One very common mistake trainers make is trying to sell individual hours. Your revenue prediction is tied to encouraging long-term contracts, and the simpleness of the package also ensures greater client retention for you.

At the same time, having too similar prices can turn customers away. Studies have shown that when given a choice to buy or not buy, consumers chose not to buy two similar products – for instance two protein powders – when they were the same price, but many more chose one or the other when the prices were different by even a few cents.

Drop the anchor

Another framing effect is price anchoring, or showing the value of a certain set of services next to another slightly or even significantly more expensive deal. The combination of this contrast with a properly framed message will make your most commonly sold package seem all the more worthwhile to your clients.

A great way to take advantage of this as a trainer is by showing the price of a package for 6 months in between packages for, e.g., 3 months and 12 months. If you take the 6-month package visibly more attractive in terms of price, there will be considerably more demand for it.

An oldie but a goodie

Even when we’re aware of it, we’re all suckers for a sale. All the three-for-twos and clearance sales and now-justs are almost irresistible. Language which emphasizes what a good deal your clients are getting has been proven time and time again to be more.

Prices which end in 9 are inherently more attractive. A package which is £79 sells better than one for £75. Instead of saying “for a £5 fee”, say “for a small £5 fee.” Another useful approach is to every now and again offer a discount on an existing package and say “Was 79£. Now, just £59!”. Clients will jump at the opportunity to take advantage of that bargain.

Make it painless

The age old training motto “No pain, no gain” doesn’t hold true for spending: we spend every month until it starts to hurt, and then we start looking at what to cut out of our budget. Sadly, non-essential or “extra” products and services like a gym membership are among the first things to go.

You can make it painless for your clients by showing them the exact value of the services they are paying for, so they feel confident that the money they spend will pay off in concrete results. Then make it as easy as possible for them to pay, without having to worry about having cash on hand. That way you and your clients have more time to focus on working out and getting better together. This is exactly what GettaPro does for you as a business owner – it displays all your services, with clear descriptions, and painless

Add context to your services

Framing the message behind your prices has a huge impact on the appeal of your services. Just as the same pint at a ritzy hotel is worth more than at the pub down the street, your services are valued differently when placed in different contexts.

Think about what you are ultimately offering your clients. It is not merely time in the gym with you, but the chance to improve their health and happiness. “My services will help you feel better about yourself” is more attractive than “My services will get you in shape”.

Stay tuned for our next blog post where we will cover the idea of context in greater detail.